We are committed to Vizhinjam Port: Karan Adani

Work for the Vizhinjam Port is going ahead as per schedule and the Adani Ports is committed to it, a top company official said here on Thursday.

"We are committed to this project and the work is going on as per schedule, and there need be no concerns at all," Adani Ports CEO Karan Adani told reporters on Thursday soon after meting Kerala Chief Minister Pinarayi Vijayan.

There was a speculation that Adani Ports has dumped the Rs 7,525-crore Vizhinjam project in lieu of the proposed Colachel Port.

After the then Oommen Chandy government inked the agreement with Adani Ports in 2015, Vijayan -- then in opposition -- had alleged that the Vizhinjam project was a "corrupt deal".

Adani Ports was the lone bidder and had sought Rs 1,635 crore as grant for the project.

As per the agreement, Adani Ports is expected to finish the first phase of the work in 1,000 days which began on December 5, 2015.

The proposed Vizhinjam Port is to be completed in three phases. After its completion, it would enable ships with a capacity of even 18,000 TEU to dock.

The proposed port, located close to the busy international shipping route, is expected to handle 4.1 million containers annually.

According to the agreement, Adani Ports would operate the port for 40 years, extendable by 20 more years, while the state government would get a portion of the revenue from the port after 15 years of operations.

--IANS

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